All Forum Posts by: Account Closed

Hi,

We are a newer Property Management company, but all of us have decades of experience investing and managing properties. We wanted to provide a quality property management company as we were not finding any in our market.

Looking to network with local real estate agents and investors.

Thanks,

Lila

@Eric Harrison so far I’ve avoided that area, as I’ve heard mixed reviews. Agree with others. Invest time hanging out in the neighborhood, different times of day, and days of the week.

@Nicole Far Since you aren’t local, don’t you have a property manager? I would expect they would have reasonably priced contractors, especially for common items like painting.

@James Conaway I tried brokers that were referred to me, and they got quotes from different companies, but I’ve not found a company that offered as comprehensive of a policy at good prices as State Farm. I was very surprised, as I didn’t think they would be the best option, but I’ve compared a few times and I’m still happy with their offering.

@Cameron Tope I also invest in Ohio and am searching for a new CPA, as well as bookkeeping services. Would like to know what you find.

@Brittany King the problem is they all can sound good when you talk to them upfront. Its only after you hire them when you find out how they really are. Most can provide plenty of references so that often doesn’t help either.

I would look for certifications in property management and affiliation with an organization like NARPM. Too often, real estate agents become property managers to stabilize their income, but lack the knowledge of how to effectively manage properties.

Regardless of who you hire, you need to closely monitor the finances. Some will have attractive management fees, but then slam you with hidden fees and excess maintenance charges.

Having been through multiple poor property management companies I finally started my own. Best way to get my properties under control and help others with quality property management.

I talked to my accountant about this. He warned that changing ownership from yourself to your LLC, many mortgage companies will use that as a reason to call in the mortgage. He advised only putting new purchases into the LLC.